off-the-wire

Apollo Global in talks to buy stake in Credit Suisse unit -WSJ

Kitco Media
By Reuters
Published:
Updated:
Reuters

Feb 7 (Reuters) - Apollo Global Management Inc (APO.N) is among a group of financial firms in talks to buy a stake in Credit Suisse Group's (CSGN.S) revamped investment bank, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

The talks with Apollo are continuing and could still fall apart, the report said, without mentioning the size of the potential stake or the potential deal value.

Both Apollo Global and Credit Suisse declined to comment on the report.

The Swiss lender created CS First Boston last year.

The entity advises on mergers and acquisitions, raises capital for clients through equity and debt markets, and provides leveraged finance as part of its core offerings.

Reporting by Shivani Tanna in Bengaluru; Editing by Sohini Goswami and Savio D'Souza
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